New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-24
THE pBENIX REORGANIZED.
.,rsr,S coRBIS ELECTED A DIRECTOR.

uv,noS MADE yIcE-PREsIDENT-THE
MARINE DEPARTMENT ABOLISHED
directors were present yesterday at the meet
ing of the Board of of the Phenix Insurance
Camn,uv AZ brooklyn In the Western Union Building.
The meeting resulted in the election OF several new al
rscor, and the adoption OF report which aboshcs the
Marine Department OF the company. The company mas
p.,sed out OF control OF the Crove party ana eE
ter from Vice President Crowel offering his resignation
as . director was promptly accepted ana George r.
Sheldon was elected viceprosdcn In his place. Two
additional vacancies caused by the resignation Oh
F. W. Crowen and Samuel Y. Upper, OF Charleston
This with the vacancy caused bv the death OF Olver
Hovt left four new directors to be elected. 1hose
chosen were Austin Corbin, Henry W. maxwell W. f.
Kendall and f. r. Kuowlton With the exception OF Mr.
Corbn none OF directors has been stockhoder
the company but they made purchases oi s'ocA anu
were qualified during the day.
Itwss reported that the stockholders had demahaea
the resignation OF Vice President Crowen. but
Secretary Shaw said that Mr.. Growers managenehs
OF the affairs OF the company was regarded as ucttu
by mistaken Judgment, and there was no purPose u" @
mari OF the stockholders condemn him furuer ins
ecton Mr. COrbln and his friends was sara 10 20 uuo
10 their willingness take up the stock OF the company
and pay the assessments wnero there SHOULD 10 any o
fault. .-,..,,... ,r.. .rho,,..
ted Inv COMMITTEES consisting OF Arthur b. Graves. Al
bion X Bolsn. W. ~ Thomas c. s. Woodruff ana "oorse
r. sheldon, and was adopted
In the month OF March last an was a
by the Insurance o. se and the
tsSnt has made his report the S0th Of
June last the capital OF The company was impaired
meeting Of tho Board Directors held at the office OF
The conpary on the OF Angus last IL was voted
n 'aninausy 10 ali upoa TO make mp the
upsrment referred above. accordance with the Ieqn
s'tiop superintendent OF the nsuran
charge matter and TO Issue the sA
men giving which induced the Board 10 take
the present time the of has in
enGsa epns The
premiums fire rks ihe sum OF ,e S ~
show surplus Of receipts such disbursements OF
si574 SOP o. the marine department. IN tho sane tins
pur.e or during time ST. l0oS35 Al leaving only
the S679533 90 out OF winch to pay the
TO thai depsrtmsn IL ~ estimated those expenses
in the Marine Depar for the ten OF S12Os42 o.
Inasmuch business OF FIRE Insurance as carrie on
by thus all s s so,S N, h has los, It. M
rne the Board propose 10 conhn The business OF
The COMMITTEES also state that chanses IN the BOAra
hsve already been made AMI pes
msds thereof committee believe that The
bosrd organized al present larry tne
Tho com recommending 10 the Stockholders that hey
promptly pay into The treasury OF ia. eomp~ny me
ia the REPORT Insurance superintendent Already as
surance have eeen iro % ~ law the board ami
expressing their 10 the action now take an We
Committed arc assured that whatever Is paid IN BY the
.fockhodsrs be prom subscribed for By responsible
partIes not hereto re connected with the company
the charter OF the company
o,s m. NV ndeT which IL organ Zed stock
holders reason 10 respond 10 the car ae y
he Board pursuant TO the requst on Of m In
surancs vaue Of he stock in tho ands OF
such stockholders viii be rendered 10 the 49,, " wv
the assets of the Company on the SUN gay
June last Determined As the lime s limited In tue reqns
the department II 10 absolutely nscesary Io is .
holders will paw the their Then the
Inc viii 10 offer stock equal
10 the unpaid call TO other parties